Special Purpose Credit Programs (SPCPs): Overview | Practical Law

Special Purpose Credit Programs (SPCPs): Overview | Practical Law

A Practice Note providing an overview of targeted lending programs known as Special Purpose Credit Programs (SPCPs) authorized by the Equal Credit Opportunity Act (ECOA) to meet the credit needs of underserved borrowers and communities. This Note summarizes regulatory and federal agency guidance for developing and implementing SPCPs that comply with federal fair lending laws.

Special Purpose Credit Programs (SPCPs): Overview

Practical Law Practice Note w-038-9886 (Approx. 10 pages)

Special Purpose Credit Programs (SPCPs): Overview

by Practical Law Finance
MaintainedUSA (National/Federal)
A Practice Note providing an overview of targeted lending programs known as Special Purpose Credit Programs (SPCPs) authorized by the Equal Credit Opportunity Act (ECOA) to meet the credit needs of underserved borrowers and communities. This Note summarizes regulatory and federal agency guidance for developing and implementing SPCPs that comply with federal fair lending laws.